Spain's CAM to list retail tranche at 5.84 euros
MADRID, July 21 (Reuters) - Caja de Ahorros del Mediterraneo (CAM) on Monday set a final price for retail investors of 5.84 euros per share for a planned July 23 placement on the stock market, the first by a government-controlled savings bank.
CAM had set 5.95 euros as the maximum price of the listing on July 15, but the final figure was at the bottom of its initial price range of 5.84-7.30 euros.
CAM plans to allot retail investors 65 percent of 50 million "participation certificates" -- similar to non-voting shares -- on offer.
The Alicante-based bank aims to raise up to 365 million euros ($582.3 million) by floating 7.5 percent of its "available surplus". (Reporting by Sarah Morris; editing by Ben Harding)
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